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SM (Fach) / Rudinzki (Lektion)

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• What is the aim of strategy? to achieve large goals on the longterm  - to compete to be unique insted of being the best!!! Example: - gain more market share - reaching a higher productivity rate
• What are challenges of strategy? - to differentiate from the crowd - strategy wont always go as planned, as there are always external factors that could influence the strategy
• What are different elements of strategy? 1. planing 2. organizing 2.2 analyzing 3. implementing 4. controlling
• what does one have to take into consideration when setting up a strategy? Strengths and weaknesses oppertunities and threats possible internal and external influences capacities and capability competitors
• What is strategy not? Strategy is not something that is set and works for all each company has to set up their own strategy
• Explain Minzberg´s 5 Ps - 5 different Viewpoints on strategy - every strategy has a: 1. Plan - a guideline to geth from where you are now to where you want to be - Tools: SWOT or PESTEL 2. Ploy - to get better than the competitor - for ex. lowering prices - short term - Tools: Scenario Planing 3. Pattern: - looking at the past  - what did we do that was succesfull 4. Position - where are we standing compared to competitors? 5. Perspective - looks at shaping the culture of the organization - how do we see the market and what does the market demand?
• What are the ten strategy schools of Henry Mintzberg? - a framework to categorize strategic management
• What are the prescriptive schools? Design - strategy thought of as a conception process Planing  - strategy as a formal process Positioning  - as an analytical process
• Design school To evaluate strengths and weakeness and then create a strategy to implement
• planing school fomal planing
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• Positioning School Where do you stand in the market? - BCG Matrix 
• What is mc Kinseys 3 Horizon of innovation Model?  Horizon 1: optimization             - short term, about current business model             - efficiently use remaining potential  Horizon 2: sustaining innovations             - improve or develop existing product             - high investment of time and money  Horizon 3: radical innovation             - create a completely new and different product
• What is foresight? to look into the future create scenarios
• scenario planing create a couple of scenarios make a list of key factors implement those key factors in your strategies
• What is wind tunneling? Using scenarios to check and set up a robust strategy identify future fields and possible oppertunites and strategies
• Optimal fit Good fit Disadvantagous fit Problematic fit Optimal fit:  - resources and strategy fit optimal with the scenario Good fit: - it is a robust strategy and threats turn into oppertunities Disadvantageos fit: - When this scenario occurs, the company will find it self having some disadvantages Problematic fit:  - When this scenario occurs the company will have big difficulties

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